This new timeline traces five legal battles the Empire Center has fought since 2009 against public agencies that refuse to allow taxpayers to see where their money is going.
After a two-year legal battle followed by two years of additional delays, the New York City Employee Retirement System (NYCERS) has released the full pension records for its retired members.
Nearly two-thirds (264) of the 420 firefighters and fire officers who retired from the Fire Department of New York (FDNY) during 2016 are eligible to collect pensions of at least $100,000, according to data posted today on SeeThroughNY, the Empire Center’s transparency website.
The number of retirees receiving pensions over $100,000 from the New York State and Local Retirement System (NYSLRS) continued to increase during the system’s 2017 fiscal year, according to data uploaded today to SeeThroughNY, the Empire Center’s transparency website. A total of 3,817 retirees collected pensions over $100,000 during the fiscal year ending March 31.
At least 849 public employees have received special permission to collect government paychecks while also collecting public pensions, according to data posted today on SeeThroughNY, the Empire Center’s transparency website.
Wednesday, Mayor de Blasio presented a fiscal 2018 Executive Budget that called for pension contributions totaling $9.6 billion — another all-time high. Yet city pension plans remain significantly underfunded even by lenient government accounting standards, posing a big risk to New York’s fiscal future.
Pension system investments "are all in danger of veering off the road, just at different speeds," the Empire Center’s E.J. McMahon said in October.
“It’s definitely an outmoded way to fund retirements when you look at how the private sector has moved toward defined contribution retirement plans,” Girardin said. “Every year we remain in the pension business, we’re putting taxpayers who haven’t even been born yet on the hook for paying benefits 50 or 60 years from now.”